Norwich & Peterborough Building Society has increased the rate on its two-year fixed mortgage by 0.10%; however, this has not dented its competitiveness in the market, enabling it to retain its chart place and earn the top accolade as a result.
The basics…This mortgage now has an attractive rate of 1.94% fixed for two years, which has ensured its continued place in the charts. It is available at a loan-to-value (LTV) of 75% and has absolutely no product fees.
The finer details…All borrowers with the necessary deposit are welcome to apply for this deal, which is accompanied by an eye-catching incentive package: house purchase customers can profit from a £250 rebate upon completion, while remortgagors can take advantage of a £200 rebate or free legal fees. Free valuation is also available to all borrowers.
In addition to its attractive incentive package, this deal also boasts an impressive array of flexible repayment options: overpayments, underpayments and payment holidays are all permitted, provided certain conditions are met.
Penrith Building Society has unveiled a new one-year variable rate bond, which has been awarded an 'excellent' rating for its eye-catching rate and terms.
The basics… The one-year Spring Bond has an attractive variable rate of 1.80% on maturity, with the guarantee that the rate will be at least 1.00% above the highest band of the building society's Instant Access account (currently 0.80% yearly).
The finer details… This account can be opened and operated in branch and by post with an investment of at least £5,000 up to a maximum of £20,000. Savers should note that this account is only open to those with new money to the institution.
Further additions are welcomed while the issue remains open, but it is not possible to access funds prior to maturity. Savers must therefore be completely happy locking their money away for the full term.
Nationwide Building Society has cut the rate on its two-year variable tracker mortgage by 0.45%, making it the lowest rate for its sector.
The basics… This tracker mortgage now has a variable rate of 1.44% at a loan-to-value (LTV) of 60-75%. A reduced fee of £499 is payable for first-time buyers, while a fee of £999 is payable for all other borrowers.
The finer details… This mortgage is available to first-time buyers, second-time buyers and remortgagors. While first-time buyers can benefit from a lower fee, remortgagors can profit from an incentive package of free valuation and either a £250 rebate upon completion or free legal fees.
Repayments can be flexible, with both overpayments and underpayments permitted, subject to approval.
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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